The Australian Open announced today that prize money for the first Slam of the season will increase by $7 million dollars, putting the sum total for the 2015 event at $40 million (AUS) which is double the purse of 2007!

Men and women singles winners will each get $3.1M ($2.52M USD) while a first round loser will take home $34,500 ($27.8K USD).

“Obviously this is not a decision we have taken without a lot of consideration. But we have an ongoing commitment to the players that we are determined to help improve the pay and conditions of life on the international tennis tour,” Tennis Australia CEO Craig Tiley explained.

“We are honouring that commitment. We as an international tennis community still have some work to do in ensuring that the life of an international professional tennis player is properly compensated. This increase is simply the Australian Open honouring our pledge to the players that we will continue to look at all ways and means possible to get this right. That involves increasing prize money as well as cutting and where possible removing the costs associated with playing our events.”

The move comes as the Australian dollar has slid almost 15 cents against the U.S. dollar since August.

Wondering how ticket prices have been affected over the years. What’s the point in giving away more prize money if it’s entirely at the expense of Joe Public? Corporate interests have generally priced the average person out of going to most sports. It’s kind of sad.

A tangential issue: should the women and men receive equal prize money??? Personally, I say “no.” Their pay should be based on revenue generated, principally from TV advertising and secondarily from gate receipts. If the women draw more fans, and generate 15% more revenue, at the 2015 Aussie Open than do the men, then they should earn 15% more in prize money. NFL owners get more money than their NHL counterparts for the same reason.

I believe we would find that the men significantly outdraw the women at most of the shared events, including the Slams, but this could change over time.

Regardless, from a business perspective, this seems the most logical and “fair” course of action.

Conversely, if you believe in affirmative action and efforts to boost the historically weaker group, then I’m fine with that as well, just please be honest about it if you’re Venus Williams and the WTA.